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Aekyung Industrial racks up record operating profit

Aug 09,2018
Aekyung Industrial, a manufacturer of beauty products and daily necessities, reported record second-quarter results on Wednesday.

The company said it racked up 21.4 billion won ($19.1 million) in operating profit between April and June, double the same period last year. It also brought in 174.3 billion won in revenue, a 31 percent increase from 2017.

Aekyung’s results for the year’s first half were also favorable: 43.2 billion won in operating profits, a 61 percent increase year on year and 343.4 billion won in revenue, up 24 percent.

The company attributed the boost to its successful cosmetics business, which grew by 63 percent. Aekyung was originally better known for its daily necessities, but the company has found success with its beauty brands AGE 20’s and LUNA.

The revenue proportion for cosmetics rose to 52 percent from a smaller 43 percent last year. Aekyung’s plan for the year is to enforce its lineup of skin care products starting with Fflow, which it launched in April.

By Song Kyoung-son